Canadian businesses must repay their Canadian Emergency Business Account loans to receive partial loan forgiveness or apply for refinancing with a financial institution by today. During the pandemic, 898,271 businesses were approved for CEBA loans of up to $60,000, totalling $49.2 billion overall. (The Logic)

Talking point: Small businesses have urged the Liberal government to extend the CEBA deadline, citing financial struggles and fears of bankruptcy. The loans, initially due Dec. 31, 2022, were extended until the end of 2023 to help offset the financial impact of the Omicron variant surge. In September, the government extended the deadline once more to Jan. 18. Dan Kelly, president of the Canadian Federation of Independent Business, said in a release Wednesday that “the government will regret the decision to not grant more time as small businesses fail and default on their entire loan. CEBA will be the straw that breaks the camel’s back.”